Universal Access To All Knowledge
Home Donate | Store | Blog | FAQ | Jobs | Volunteer Positions | Contact | Bios | Forums | Projects | Terms, Privacy, & Copyright
Search: Advanced Search
Anonymous User (login or join us)
Upload

Reply to this post | See parent post | Go Back
View Post [edit]

Poster: dead-head_Monte Date: Nov 5, 2011 11:38am
Forum: occupywallstreet Subject: Re: not prosecuting Wall Street - Nobody goes to Jail!

dn_logo.png

• February 22, 2011 - Matt Taibbi's entire interview: 'Why Isn't Wall Street in Jail?’

matt-taibbi.jpg"Nobody goes to jail,” writes Matt Taibbi in his issue of Rolling Stone magazine. “This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world’s wealth." Taibbi explains how the American people have been defrauded by Wall Street investors and how the financial crisis is connected to the situations in states such as Wisconsin and Ohio. The broad crime in all of this was just fraud. These banks were taking these subprime mortgages, and they would have these billion-dollar pools of mortgages where, in some cases, 70 or 80 percent of the loans were to people who had no identification or no jobs or who had put no money down into the mortgage. And then they were taking these loans and applying this phony baloney, hocus pocus math, these derivative instruments, and turning them into AAA-rated investments. And they were marketing, again, these securities to, say, state pension funds as AAA-rated investments, which means credit risk almost zero.

So they took the stuff that they knew was very, very risky and very, very likely to default, and they were going to the state of Wisconsin, the state of Ohio, the state of New York, and saying, "Hey, this is almost as safe as — or in fact, it is as safe as United States Treasury bonds. You should buy this, and you’ll earn a little bit more than you’ll earn if you buy T-bills." The reality was, they were just taking absolutely worthless stuff and sticking it with these people and then fleeing the scene.

• February 22, 2011 - Matt Taibbi's entire interview: 'Why Isn't Wall Street in Jail?’

Democracy Now archives - search for Matt Taibbi

Reply to this post
Reply [edit]

Poster: rastamon Date: Nov 5, 2011 11:48am
Forum: occupywallstreet Subject: Re: not prosecuting Wall Street - Nobody goes to Jail!

Also the politicians who aided deregulation by letting people who had bad credit get home loans, just to garner votes. The democrat's and republican's who supported and who's elections were paid for by Wall Street Greed mongers. If they didn't break any "Laws" because of loopholes, then vote the bums OUT!

Show me a list of democrat's who accepted Wall Street $$ for election and senate votes. I sure as hell know you can point out the republicans...I want to see some fair handedness on who's really to blame.

Some of the people that took advantage of loose credit restrictions to get into their own mess should shoulder some blame too. They are not all victims, some lacked basic common sense by living in the red on so many credit levels.

Reply to this post
Reply [edit]

Poster: rastamon Date: Nov 5, 2011 12:09pm
Forum: occupywallstreet Subject: Re: not prosecuting Wall Street - Nobody goes to Jail!

I noticed a few "Why not's" above. WHY is Obama NOT ordering the FBI and Attorney General to prosecute them, regardless of political party? WHY NOT?? I'll tell you why not, because there are too many corrupt partisan fucks out there, hooked on greed, power and not representing We the People. I'll say this for We the People >> "big corrupt government, Don't tread on me!" that's something we could all agree on!

Reply to this post
Reply [edit]

Poster: Administrator, Curator, or StaffNoiseCollector Date: Nov 7, 2011 8:41am
Forum: occupywallstreet Subject: Re: not prosecuting Wall Street - Nobody goes to Jail!

I heard a rumor that Fannie and Freddie are getting some big bonuses... mums the word on them though, right?

Did you know if you took ALL the income from the "1%" it still would not be enough to pay all the wasteful crap our government funds?

Reply to this post
Reply [edit]

Poster: Administrator, Curator, or StaffNoiseCollector Date: Nov 8, 2011 7:26am
Forum: occupywallstreet Subject: Re: not prosecuting Wall Street - Nobody goes to Jail!

Hey man, as you are probably aware, trying to reason with people about this stuff is pointless. I am supposed to be avoiding stress and I even let 2 liberals at work chirping the most illogical rationalizations that I have heard yet and I didn't bother chiming in... it's pointless. It's all pointless. Now that the left has the scarlet letter on cain they don't have to vote AGAINST a black person so the election is sealed for 0bama in 2012. I almost think the republicans are doing this on purpose, maybe they are getting payola somehow? If a third party candidate does not come out, it's all over.

Today's vote in Ohio will set the ball rolling and this country will never recover. It's time to go from debating mode to survivalist mode because by the next election after 2012 all the illegal aliens will be registered democrats, many of the old white people that vote will be gone, and we will never see another majority besides the uber left wing democrats in power. All we can do is move away from the urban areas, teach our children to hunt and fish, and hope we have enough canned goods and time to grow a crop or learn to gut a dear. I give western civ 20 years max before it's mad maxville.

See you on the other side of civilization!

Reply to this post
Reply [edit]

Poster: Arbuthnot Date: Nov 5, 2011 1:26pm
Forum: occupywallstreet Subject: Re: Jail 'em all

on the let's jail everyone theme, why isn't the CEO and other bigs of companies like Coke/Pepsi and Big Foods, Inc. not in jail for poisoning the population with pesticides, carcinogens, and other toxic ingredients, and being the prime reason for sky-rocketing health care, obesity, diabetes, kidney failure, heart disease, cancer, etc.? these are known killers, and yet where is the outcry, where are the sit-ins and occupying forces rallying against these corporate giants of ill-health?

Reply to this post
Reply [edit]

Poster: Administrator, Curator, or StaffNoiseCollector Date: Nov 7, 2011 8:43am
Forum: occupywallstreet Subject: Re: Let them eat cake

Break out the guillotines for fannie mae and freddie mac too! And GE... oh wait.... nevermind. WE LIKE THOSE ROBBER BARONS.

Terms of Use (10 Mar 2001)